Harrods Bank has added to its savings offerings with a new 120-day notice savings account, which has sailed straight into the top 10 for its sector.
The basics… 120 Day Notice has a quarterly rate of 1.45%, earning it a place among the top 10 most competitive accounts for its term.
Meanwhile, two new fixed savings accounts have also been launched. 1 Year Fixed Deposit pays 1.75% upon maturity while the five-year version has a rate of 2.75% per annum.
The finer details… All accounts can be opened in branch and by post with a minimum deposit of £20,000. They can then be managed in branch, by post and by phone.
The notice account allows further additions and unlimited penalty-free withdrawals. However, early access is not permitted with 120 days' notice always required.
The fixed accounts do not allow early access to funds and further additions are also not permitted. Savers must therefore be comfortable with their initial deposit and the length of the term.
Why we like them…
The new notice account offers savers a competitive rate, which is sure to attract attention. The ability to make further additions and unlimited withdrawals adds to its appeal and ensures its place in the Moneyfacts charts. However, early access is not allowed, so savers must ensure that they plan their withdrawals carefully.
Four Moneyfacts Stars have been awarded.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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